America’s 50 Fastest-Growing Retirement Hot Spots
You’ve done it. You’ve finally punched your time clock for the last time and are about to step into living your retirement dreams. Now that you don’t have to worry about a work commute you can explore where you want to retire in style based on your preferred overall cost of living in some of America’s largest cities.
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Whether you want to cut down on your living expenses or move to a place with more natural beauty and outdoor activities, your retirement destination can be catered to your budget. Not only is living comfortably near family and friends an option but also finding a place where your Social Security benefits can stretch a little further is also beneficial to save room for your healthcare costs and state taxes that may come into play.
GOBankingRates conducted a study to analyze the fastest-growing retirement hot spots from around the country, and the good news is that the U.S. has no shortage of options to live your retirement dreams in a real-life scenario. Here are some key takeaways:
Four of the top 10 retirement hot spots are Florida cities Clermont, North Port, Fort Meyers and Vero Beach South.
Arizona has the No. 1 ranking with Goodyear as it has shown the largest percentage increase of people in retirement age living there.
Florida also has the most cities out of all the states as it landed 12 retirement hot spots overall, which is good to know when planning where you want to move upon retirement.
Here is the list GOBankingRates has ranked from highest to lowest based on the biggest percentage increase in the retirement age population over five years.
Also see where the top retirement hot spots might be in 10 years.
1. Goodyear, Arizona
5-year percentage increase in retirement age population of people 65 and over: 61%
1-year percentage increase in population of people over 65: 11%
2022 percentage of the population who are 65 and older: 18%
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2. Sugar Land, Texas
5-year percentage increase in retirement age population of people 65 and over: 58%
1-year percentage increase in population of people over 65: 9%
2022 percentage of the population who are 65 and older: 18%
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3. Clermont, Florida
5-year percentage increase in retirement age population of people 65 and over: 54%
1-year percentage increase in population of people over 65: 8%
2022 percentage of the population who are 65 and older: 25%
4. El Dorado Hills, California
5-year percentage increase in retirement age population of people 65 and over: 50%
1-year percentage increase in population of people over 65: 9%
2022 percentage of the population who are 65 and older: 20%
5. North Port, Florida
5-year percentage increase in retirement age population of people 65 and over: 49%
1-year percentage increase in population of people over 65: 8%
2022 percentage of the population who are 65 and older: 28%
6. Gallatin, Tennessee
5-year percentage increase in retirement age population of people 65 and over: 47%
1-year percentage increase in population of people over 65: 10%
2022 percentage of the population who are 65 and older: 17%
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7. Fort Myers, Florida
5-year percentage increase in retirement age population of people 65 and over: 42%
1-year percentage increase in population of people over 65: 9%
2022 percentage of the population who are 65 and older: 22%
8. Peoria, Arizona
5-year percentage increase in retirement age population of people 65 and over: 40%
1-year percentage increase in population of people over 65: 9%
2022 percentage of the population who are 65 and older: 19%
9. Longmont, Colorado
5-year percentage increase in retirement age population of people 65 and over: 40%
1-year percentage increase in population of people over 65: 6%
2022 percentage of the population who are 65 and older: 17%
10. Vero Beach South, Florida
5-year percentage increase in retirement age population of people 65 and over: 39%
1-year percentage increase in population of people over 65: 9%
2022 percentage of the population who are 65 and older: 28%
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11. Mesquite, Nevada
5-year percentage increase in retirement age population of people 65 and over: 39%
1-year percentage increase in population of people over 65: 10%
2022 percentage of the population who are 65 and older: 45%
12. Grove City, Ohio
5-year percentage increase in retirement age population of people 65 and over: 37%
1-year percentage increase in population of people over 65: 9%
2022 percentage of the population who are 65 and older: 18%
13. Rio Rancho, New Mexico
5-year percentage increase in retirement age population of people 65 and over: 36%
1-year percentage increase in population of people over 65: 7%
2022 percentage of the population who are 65 and older: 17%
14. Fort Pierce, Florida
5-year percentage increase in retirement age population of people 65 and over: 36%
1-year percentage increase in population of people over 65: 11%
2022 percentage of the population who are 65 and older: 21%
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15. Lacey, Washington
5-year percentage increase in retirement age population of people 65 and over: 34%
1-year percentage increase in population of people over 65: 8%
2022 percentage of the population who are 65 and older: 18%
16. Coeur d’Alene, Idaho
5-year percentage increase in retirement age population of people 65 and over: 34%
1-year percentage increase in population of people over 65: 8%
2022 percentage of the population who are 65 and older: 20%
17. Olympia, Washington
5-year percentage increase in retirement age population of people 65 and over: 34%
1-year percentage increase in population of people over 65: 6%
2022 percentage of the population who are 65 and older: 19%
18. Myrtle Beach, South Carolina
5-year percentage increase in retirement age population of people 65 and over: 33%
1-year percentage increase in population of people over 65: 7%
2022 percentage of the population who are 65 and older: 22%
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19. Port St. Lucie, Florida
5-year percentage increase in retirement age population of people 65 and over: 32%
1-year percentage increase in population of people over 65: 9%
2022 percentage of the population who are 65 and older: 21%
20. Peachtree City, Georgia
5-year percentage increase in retirement age population of people 65 and over: 32%
1-year percentage increase in population of people over 65: 7%
2022 percentage of the population who are 65 and older: 20%
21. Oak Park, Illinois
5-year percentage increase in retirement age population of people 65 and over: 32%
1-year percentage increase in population of people over 65: 9%
2022 percentage of the population who are 65 and older: 17%
22. Miami Gardens, Florida
5-year percentage increase in retirement age population of people 65 and over: 32%
1-year percentage increase in population of people over 65: 7%
2022 percentage of the population who are 65 and older: 17%
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23. Annapolis, Maryland
5-year percentage increase in retirement age population of people 65 and over: 31%
1-year percentage increase in population of people over 65: 8%
2022 percentage of the population who are 65 and older: 19%
24. Sunrise, Florida
5-year percentage increase in retirement age population of people 65 and over: 31%
1-year percentage increase in population of people over 65: 4%
2022 percentage of the population who are 65 and older: 20%
25. Cleveland, Tennessee
5-year percentage increase in retirement age population of people 65 and over: 31%
1-year percentage increase in population of people over 65: 7%
2022 percentage of the population who are 65 and older: 17%
26. White Plains, New York
5-year percentage increase in retirement age population of people 65 and over: 31%
1-year percentage increase in population of people over 65: 7%
2022 percentage of the population who are 65 and older: 20%
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27. Norwich, Connecticut
5-year percentage increase in retirement age population of people 65 and over: 30%
1-year percentage increase in population of people over 65: 14%
2022 percentage of the population who are 65 and older: 19%
28. Grand Junction, Colorado
5-year percentage increase in retirement age population of people 65 and over: 30%
1-year percentage increase in population of people over 65: 7%
2022 percentage of the population who are 65 and older: 20%
29. Kendale Lakes, Florida
5-year percentage increase in retirement age population of people 65 and over: 30%
1-year percentage increase in population of people over 65: 8%
2022 percentage of the population who are 65 and older: 24%
30. Cape Coral, Florida
5-year percentage increase in retirement age population of people 65 and over: 30%
1-year percentage increase in population of people over 65: 5%
2022 percentage of the population who are 65 and older: 25%
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31. Santa Fe, New Mexico
5-year percentage increase in retirement age population of people 65 and over: 29%
1-year percentage increase in population of people over 65: 4%
2022 percentage of the population who are 65 and older: 25%
32. Catonsville, Maryland
5-year percentage increase in retirement age population of people 65 and over: 29%
1-year percentage increase in population of people over 65: 4%
2022 percentage of the population who are 65 and older: 22%
33. Randallstown, Maryland
5-year percentage increase in retirement age population of people 65 and over: 29%
1-year percentage increase in population of people over 65: 7%
2022 percentage of the population who are 65 and older: 21%
34. Palm Bay, Florida
5-year percentage increase in retirement age population of people 65 and over: 29%
1-year percentage increase in population of people over 65: 10%
2022 percentage of the population who are 65 and older: 19%
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35. Novato, California
5-year percentage increase in retirement age population of people 65 and over: 28%
1-year percentage increase in population of people over 65: 7%
2022 percentage of the population who are 65 and older: 25%
36. Pahrump, Nevada
5-year percentage increase in retirement age population of people 65 and over: 28%
1-year percentage increase in population of people over 65: 6%
2022 percentage of the population who are 65 and older: 32%
37. Prescott, Arizona
5-year percentage increase in retirement age population of people 65 and over: 28%
1-year percentage increase in population of people over 65: 5%
2022 percentage of the population who are 65 and older: 41%
38. Carmichael, California
5-year percentage increase in retirement age population of people 65 and over: 27%
1-year percentage increase in population of people over 65: 7%
2022 percentage of the population who are 65 and older: 20%
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39. Hilo, Hawaii
5-year percentage increase in retirement age population of people 65 and over: 26%
1-year percentage increase in population of people over 65: 10%
2022 percentage of the population who are 65 and older: 23%
40. Kaneohe, Hawaii
5-year percentage increase in retirement age population of people 65 and over: 26%
1-year percentage increase in population of people over 65: 7%
2022 percentage of the population who are 65 and older: 24%
41. Portland, Maine
5-year percentage increase in retirement age population of people 65 and over: 26%
1-year percentage increase in population of people over 65: 10%
2022 percentage of the population who are 65 and older: 17%
42. St. Peters, Missouri
5-year percentage increase in retirement age population of people 65 and over: 26%
1-year percentage increase in population of people over 65: 8%
2022 percentage of the population who are 65 and older: 18%
43. Methuen Town, Massachusetts
5-year percentage increase in retirement age population of people 65 and over: 25%
1-year percentage increase in population of people over 65: 5%
2022 percentage of the population who are 65 and older: 17%
44. Eugene, Oregon
5-year percentage increase in retirement age population of people 65 and over: 25%
1-year percentage increase in population of people over 65: 6.%
2022 percentage of the population who are 65 and older: 17%
45. Bellingham, Washington
5-year percentage increase in retirement age population of people 65 and over: 24%
1-year percentage increase in population of people over 65: 6%
2022 percentage of the population who are 65 and older: 17%
46. Lake Oswego, Oregon
5-year percentage increase in retirement age population of people 65 and over: 24%
1-year percentage increase in population of people over 65: 5%
2022 percentage of the population who are 65 and older: 22%
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47. Roseville, California
5-year percentage increase in retirement age population of people 65 and over: 24%
1-year percentage increase in population of people over 65: 8%
2022 percentage of the population who are 65 and older: 17%
48. Middletown, Ohio
5-year percentage increase in retirement age population of people 65 and over: 23%
1-year percentage increase in population of people over 65: 6%
2022 percentage of the population who are 65 and older: 18%
49. Napa, California
5-year percentage increase in retirement age population of people 65 and over: 23%
1-year percentage increase in population of people over 65: 4%
2022 percentage of the population who are 65 and older: 18%
50. Lafayette, Louisiana
5-year percentage increase in retirement age population of people 65 and over: 23%
1-year percentage increase in population of people over 65: 4%
2022 percentage of the population who are 65 and older: 17%
Methodology: GOBankingRates looked at every city in the U.S. that met the following criteria: at least 7,500 people aged 65+ living in the area as of 2022 AND a 65+ population above the national average of 16.5%. With the qualified cities isolated, GOBankingRates was able to find the following for each: (1) 2022 population aged 65+; (2) 2022 percent of population aged 65+; (3) 2021 population aged 65+; (4) 2021 percent of population aged 65+; (5) 2017 population aged 65+; (6) 2017 percent of population aged 65+; (7) year-over-year change in population aged 65+; (8) year-over-year percent change in population aged 65+; (9) 5-year change in population aged 65+; and (10) 5-year percent change in population aged 65+. With these 10 figures, only those cities that outpaced the national average in factors (8) and (10) were moved into the final rankings. For final rankings only factor (10) was considered. All data was sourced from the 2022, 2021 and 2017 American Community Surveys conducted by the U.S. Census Bureau. All data was collected on and is up to date as of June 3, 2024.
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This article originally appeared on GOBankingRates.com: America’s 50 Fastest-Growing Retirement Hot Spots
